What Is The Current and Historic Market Size Analysis Of The Service Robotics Market?
The service robotics market has seen considerable growth due to a variety of factors.
• The market size for service robotics has significantly expanded in the past few years. It is expected to escalate from $60.61 billion in 2024 to $76.98 billion in 2025, with a compound annual growth rate (CAGR) of 27.0%. The historical growth is linked to factors like automation, labor shortage, the aging populace, healthcare requirements, safety considerations, and hazardous environments, as well as the adoption in the service industry.
What are the Market Size and Expected Growth Rates for the Service Robotics Market By 2029?
The Service Robotics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of service robotics is poised to experience an exponential uptick. It's projected to swell to $213.32 billion in 2029 at a compound annual growth rate (CAGR) of 29.0%.
Multiple factors are expected to drive the growth during the forecast period, including investments in research & development, modifications in regulations, consumer robotics, initiatives to build smart cities, and the rise of robotics-as-a-service (RaaS). The forecast period will also see prominent trends such as the advent of adaptive and flexible robots, initiatives towards sustainability, digitization of data security and privacy, the rise of healthcare robotics, and the integration of artificial intelligence.
Which Key Drivers Are Propelling The Service Robotics Market's Growth?
An upswing in the necessity for robotics within the healthcare industry is predicted to propel the expansion of the service robotics market. This sector encompasses entities which offer medical care and produce medical tools or pharmaceuticals. These service robots are utilized within healthcare establishments to manage regular logistical tasks, thereby alleviating the daily pressures experienced by healthcare workers. This allows them a greater amount of time to direct their attention towards immediate patient needs, consequently elevating the overarching standard of patient care. For example, the International Federation of Robotics, a non-profit institution based in Germany dedicated to fostering and shielding the worldwide robotics industry, reported in June 2023 that the figure for industrial robot installations within Europe stood at 72,000 units during 2022, signifying a 6% increment from 2021. Hence, this escalating demand for robotics in healthcare is propelling the growth of the service robot market.
What Are The Key Segments Within The Global Service Robotics Market?
The service robotics market covered in this report is segmented –
1) By Type: Professional, Personal And Domestic
2) By Component: Hardware, Software
3) By Environment: Aerial, Ground, Marine
4) By End-User: Healthcare, Defense, Electronics, Automotive, Transportation, Construction, Other End Users
Subsegments:
1) By Professional: Healthcare Robots, Logistics Robots, Agriculture Robots, Security And Surveillance Robots, Cleaning Robots, Construction Robots
2) By Personal: Companion Robots, Entertainment Robots, Educational Robots, Assistance Robots
3) By Domestic: Vacuum Cleaning Robots, Lawn Mowing Robots, Pool Cleaning Robots, Window Cleaning Robots, Home Security Robots
Pre-Book The Service Robotics Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The Service Robotics Market?
Leading companies in the service robotics market are concentrating on creating innovative technological solutions such as the proprietary mapping technology from Pudu. The aim is to enhance the efficiency of operations, increase positive customer engagement and grow the usability of service robots in several industries. Pudu's exclusive mapping technology facilitates accurate navigation and allows for obstacle evasion for its service robots operating in changing environments. For example, in April 2024, a technology firm based in China introduced BellaBot Pro. This robot uses artificial intelligence to deliver custom greetings and engage with customers. It also incorporates advanced dish recognition skills to boost dining experiences by correctly identifying different meals on the menu.
Who Are the Key Players In The Service Robotics Market?
Major companies operating in the service robotics market include:
• Parrot SA
• Aethon Inc.
• Honda Motor Co. Ltd.
• Panasonic Holdings Corporation
• Yujin Robot Co. Ltd.
• Samsung Group
• iRobot Corporation
• Robert Bosch GmbH
• Kongsberg Maritime
• Daifuku Co. Ltd.
• Omron Corporation
• SoftBank Group Corp.
• Boston Dynamics Inc.
• ABB Robotics
• KUKA Roboter GmbH
• FANUC Robotics America Inc.
• Yaskawa Motoman Robotics Inc.
• Universal Robots A/S
• Clearpath Robotics Inc.
• Fetch Robotics Inc.
• Locus Robotics
• Sarcos Robotics
• Knightscope Inc.
• Seegrid Corporation
• Simbe Robotics Inc.
What Are The Regional Insights Into The Service Robotics Market?
North America was the largest region in the service robotics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the service robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
